Distributed Ledger Micro Reporting Tool Indexing
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Solution Overview
Problem
Private/permissioned Blockchain networks face challenges in capturing information on the fly and efficiently retrieving transactions due to their decentralized nature, leading to difficulties in reporting and data access.
Innovation Solution
A distributed ledger micro reporting tool is developed, comprising an event listener that connects to the Blockchain, indexes transaction hashes with timestamps, and provides a lightweight graphical user interface for searching and decrypting transactions, enabling faster data retrieval and secure reporting.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If a private/permissioned Blockchain network is implemented with decentralization, then transparency and immutability are improved, but data access and reporting efficiency deteriorate
Solution Approach 1:
The patent introduces an intermediary indexing system that mediates between the decentralized blockchain ledger and users seeking data access. The indexer creates and maintains an index of transaction data, allowing efficient querying without requiring users to scan the entire distributed ledger across multiple nodes. This intermediary layer resolves the contradiction by enabling fast data access while preserving the underlying decentralized structure.
2Stability of the object's composition
If transaction data is stored across multiple participant nodes, then immutability is improved, but data retrieval time increases
Solution Approach 1:
The patent applies preliminary action by pre-processing and indexing transaction data as it is added to the blockchain. The indexer continuously monitors new blocks, extracts relevant transaction information, and maintains an updated index structure in advance of any query operations. This preliminary indexing action enables rapid data retrieval without compromising the immutability of the original blockchain records.
3Loss of information
If all transactions are made visible to all participants, then transparency is improved, but security and privacy control deteriorate
Solution Approach 1:
The patent implements local quality by allowing different visibility and access rights for different participants based on their permissions. The indexing system can selectively index and make data accessible to specific users or user groups according to their authorization levels. This enables transparent operation for authorized participants while maintaining security and privacy control by restricting access to sensitive information from unauthorized users.
Data Source
AI summary
Systems and methods for using distributed ledger micro reporting tools are disclosed. In one embodiment, in a distributed computer application executed by an information processing apparatus comprising at least one computer processor, a method for using a distributed ledger micro reporting tool may include: (1) an event listener establishing a connection a distributed ledger; (2) in response to the creation of each block of a plurality of blocks on the distributed ledger, the listener reading block details from the block, wherein the block comprises a plurality of transactions, and the block details comprise a transaction hash for each of the plurality of transactions; (3) indexing the transaction hash with a timestamp; and (4) storing the index of the transaction hash with the timestamp.